Crypto Industry Is 'Absolutely' at War Against Gensler and Warren, Blockchain Association CEO Smith Says

The war won't last forever, but probably will continue for the next 18-20 months, Kristin Smith said.

AccessTimeIconApr 28, 2023 at 9:57 p.m. UTC
Updated May 1, 2023 at 1:56 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

AUSTIN, Texas – The crypto industry is "absolutely at war" against policy and lawmakers in the U.S., particularly against Securities and Exchange (SEC) Chairman Gary Gensler and Senator Elizabeth Warren (D-Mass.), Blockchain Association CEO Kristin Smith said during a panel Friday at Consensus 2023.

"Elizabeth Warren has an anti crypto army. She is advertising on Twitter for her campaign, that she has an anti-crypto army," Smith said during "Beltway Confidential: Inside the D.C. Crypto Scene."

Sen. Warren's controversial Digital Asset Anti-Money Laundering Act (DAAMLA) was originally introduced in December and did not go anywhere. It was met with little fanfare and considerable criticism.

Smith, however, provided a glimmer of hope for the industry during the panel, saying that a pro-crypto "army," including the Blockchain Association, are fighting "in Washington every day" for the industry. "There's a reason that Elizabeth Warren has stalled her bill [and] that's because she lost co-sponsors," Smith said. "And that was because of the lobbying effort and education effort that went on" from the pro-crypto groups."

"So we're fighting. I don't think this is a war that lasts forever, but we're going to probably be at war for the next 18 to 20 months," Smith added.

Edited by James Rubin.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Aoyon Ashraf

Aoyon Ashraf is managing editor with more than a decade of experience in covering equity markets

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.